WELLSFARGO FINANCIAL, INC.

 

COMPUTATIONOF RATIOS OF EARNINGS TO FIXED CHARGES

 

Exhibit(12)

 

 
|                                                                       |   | **Nine  Months Ended September 30, 2001** |       | **Years Ended December 31,** |       |
|----------------------------------------------------------------------------|--------|------------------------------------------------|----------------------|------------------------------|----------------------|
|                                                                       |   |                                           |                 | **(Thousands of Dollars)**   |                 |
|                                                                       |   |                                           |                 |                         |                 |   |   |   |   |   |   |   |   |
|                                                                       |   |                                           |                 | **2000**                     |                 | **1999** |   | **1998** |   | **1997** |   | **1996** |   |
|                                                                       |   |                                           |                 |                         |                 |   |   |   |   |   |   |   |   |
| Net  income                                                                |   | $                                              | 197,149              |                         | $                    | 241,054 |   | $ | 265,361 |   | $ | 238,604 |   | $ | 269,450 |   | $ | 276,331 |   |
|                                                                       |   |                                           |                 |                         |                 |   |   |   |   |   |   |   |   |
| Add:                                                                       |   |                                           |                 |                         |                 |   |   |   |   |   |   |   |   |
|                                                                       |   |                                           |                 |                         |                 |   |   |   |   |   |   |   |   |
| Fixed  charges:                                                            |   |                                           |                 |                         |                 |   |   |   |   |   |   |   |   |
|                                                                       |   |                                           |                 |                         |                 |   |   |   |   |   |   |   |   |
| Interest  including amortization of debt expense                           |   | 539,761                                        |                 | 639,444                      |                 | 520,063 |   | 485,784 |   | 401,736 |   | 372,859 |   |
|                                                                       |   |                                           |                 |                         |                 |   |   |   |   |   |   |   |   |
| One-third  of rentals*                                                     |   | 9,950                                          |                 | 12,844                       |                 | 13,974 |   | 13,406 |   | 12,107 |   | 10,748 |   |
|                                                                       |   |                                           |                 |                         |                 |   |   |   |   |   |   |   |   |
| Total  fixed charges                                                       |   | 549,711                                        |                 | 652,288                      |                 | 534,037 |   | 499,190 |   | 413,843 |   | 383,607 |   |
|                                                                       |   |                                           |                 |                         |                 |   |   |   |   |   |   |   |   |
| Provision  for income taxes                                                |   | 117,301                                        |                 | 138,834                      |                 | 149,190 |   | 121,668 |   | 144,082 |   | 148,096 |   |
|                                                                       |   |                                           |                 |                         |                 |   |   |   |   |   |   |   |   |
| Total  net earnings, fixed charges and income taxes - “Earnings” |   | $                                              | 864,161              |                         | $                    | 1,032,176 |   | $ | 948,588 |   | $ | 859,462 |   | $ | 827,375 |   | $ | 808,034 |   |
|                                                                       |   |                                           |                 |                         |                 |   |   |   |   |   |   |   |   |
| Ratio  of earnings to fixed charges                                        |   | 1.57                                           |                 | 1.58                         |                 | 1.78 |   | 1.72 |   | 2.00 |   | 2.11 |   |
|                                                                       |   |                                           |                 |                         |                 |   |   |   |   |   |   |   |   |

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*              One-thirdof rentals is deemed representative of the interest factor.